Acquired by Handle in 2016, Prism is a financial management and billpay app that allows users to automatically track bills and account balances, receive due date reminders, and pay bills for free in real time. In conjunction with today’s milestone, Prism recently surpassed 11,000 billers across the country on its platform.
While the app saw high user adoption last year, the company has recently launched new payment options it expects will boost growth even further. The alternative payment options allow users to– for a small fee– pay their bills using a debit or credit card, even if the biller does not offer those payment methods. In cases where the biller only accepts ACH payment, Prism works behind-the-scenes to convert the credit or debit card payment to ACH.
In the future, Prism plans to add even more payment options, such as third party wallets, social money apps, and cash payments. The cash payment option would be an easy addition, since Handle Financial also owns PayNearMe, an app that enables consumers to make online purchases using cash by scanning a barcode on their smartphone.
Richard Kang, Senior Vice President of Consumer Channel for Handle Financial said, “Consumers have wholeheartedly embraced Prism and the power it gives them, as we’ve experienced through its widespread adoption. We look forward to helping even more users get ahead in 2018.”
At FinovateSpring 2017, Handle Financial launched the Handle Platform, which helps companies integrate bill presentment and same-day bill payment technology into their existing platform. Handle Financial is the parent company of Prism and PayNearMe, which was founded in 2009 and presented at FinovateSpring 2013 and at FinDEVr San Francisco 2014. Last July, PayNearMe partnered with Blackhawk Network, giving it access to Blackhawk’s network of retail partners.